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ICICI Bank Home Loan Schemes

Key Highlights

  • Attractive Interest rates on both fixed and floating rate loans
  • Lower Equated Monthly Installments (EMIs)
  • Zero prepayment charges on floating rate loans
Borrowers TypeFloating Rate of Interest (% p.a.)Processing Fee
For Salaried8.80 – 9.10Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
For Self-employed8.95 – 9.25Up to 2% of the loan amount or Rs.1,500* (whichever is higher)

* Rs.2,000 in Bangalore, Delhi and Mumbai

  1. ICICI Bank Instant Home Loan
    • Pre-approved housing loans up to Rs.1 crore available exclusively for customers with salary account with the bank
    • No documents to be submitted at the time of sanction
    • Discounted processing fee
    Borrowers TypeFloating Rate of Interest (% p.a.)Processing Fee
    For Salaried8.80-9.10Up to 2% of the loan amount plus applicable tax
    For Self-employed8.95 – 9.25Up to 2% of the loan amount plus applicable tax
  2. ICICI Bank 30 Year Home Loan
    • Competitive rates of interest on both floating and fixed rate loans
    • Extended loan term up to 30 years for easy repayment
    • EMI per lakh as low as Rs.808
    Borrowers TypeFloating Rate of Interest (% p.a.)Processing Fee
    For Salaried8.80 – 9.10Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
    For Self-employed8.95 – 9.25Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
  3. ICICI Bank Step Up Home Loans
    • Suitable for young salaried professionals with moderate income
    • Minimum monthly income required: Rs.20,000
    • Loan term up to 20 years
    Borrowers TypeFloating Rate of Interest (% p.a.)Processing Fee
    For All8.80 – 9.25Up to 2% of the loan amount or Rs.1,500* (whichever is higher)

    * Rs.2,000 in Bangalore, Delhi and Mumbai

  4. ICICI Bank NRI Home Loan
    • Zero charges on part-prepayment
    • Competitive rates of interest
    • Interest rates calculated on monthly reducing basis
    • Processing Fee: Up to 2% of the loan amount plus applicable tax




ICICI Bank Home Loan Eligibility Criteria

Age
Applicant:
  • Minimum Age: 18 years
  • Maximum Age: 65 years
Co-applicant:
  • Minimum Age: 21 years
  • Maximum Age: 65 years
NRIs:
  • Minimum Age: 25 years
  • Maximum Age: 60 years
Residency Status
  • Resident Indian
  • Non-Resident Indian (NRI)
Type of Employment
  • Salaried
  • Self-employed
  • Self-employed professional

Document Required for All Home Loan Applicants Under ICICI Bank

Identity Proof (any one)
  • Voter ID
  • Aadhaar Card
  • Valid Passport
  • Driving License
  • PAN Card
Proof of Residence (any one)
  • Driving License
  • Passport
  • Copy of Utility Bills
  • Aadhaar Card
  • Voter ID
Age Proof (any one)
  • Birth Certificate
  • Aadhaar Card
  • Valid Passport
  • Voter ID
Proof of Income
  • Bank account statements for the previous 6 months
  • Latest Form 16 or Income Tax Returns
Other Documents
  • Processing fee cheque in favour of the bank
  • Duly filled loan application form with passport size photographs


Use Creditupchar ICICI Bank Home Loan EMI Calculator to Know Your EMI

The Creditupchar ICICI Bank Home Loan EMI Calculator is an automized online tool that allows you to compute the EMIs payable against your loan by entering a few basic parameters. The tool also provides an amortization schedule illustrating your debt repayments towards the interest and principal components of the EMIs on a monthly and annual basis.

Features and benefits of ICICI bank housing loan

  • Affordable interest rates and both floating and fixed options
  • The home loan can be sanctioned before selecting the property
  • A really smooth simplified documentation process and even faster documentation process for existing customers
  • You get the freedom of enjoying a longer tenure with lower EMIs
  • The ‘Balance Transfer’ feature allows you to transfer your existing home loan availed from any other bank, to ICICI Bank. This is for you to enjoy long term savings.
  • With the ICICI Balance Transfer feature, you can enjoy up to additional top up loan amount. This can be up to 100% of the original home loan.
  • The bank’s home loan page provides unique online tools like Eligibility calculator and EMI calculator. With the eligibility calculator you can find the home loan amount you are eligible to avail for, and the EMI calculator calculates the monthly repayment amount towards the loan.
  • Selected customers can enjoy pre-approved home loans.
  • Up to 30 years of loan tenure available
  • Enjoy a fixed interest rate for the first 10 years, and thereafter a choice of fixed or floating interest rates.



ICICI Bank Pradhan Mantri Awas Yojana

ICICI Bank offers eligible beneficiaries Credit Linked Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY). The scheme is available to beneficiaries under the following categories:

  • Economically Weaker Section (EWS)
  • Low Income Group (LIG)
  • Middle Income Group – I (MIG - I)
  • Middle Income Group – II (MIG - II)

The CLSS can be availed by customers looking to:

  • Purchase a new flat/property
  • Construct a house
  • Extend/expand an already existing house
  • Improve/alter the structure of an already existing property

Benefits of PMAY Scheme:

  • Upfront interest subsidy ranging between 3.00% - 6.50% offered on the outstanding principal amount.
  • Maximum loan subsidy of Rs.2.67 lakh depending on the category the beneficiary is eligible for.
  • Interest subsidy can be availed on loan terms up to 20 years.
  • A 9.00% discount included in the calculation of the Net Present Value (NPV) of the interest subsidy.

ICICI home loan balance transfer

ICICI bank gives the privilege of lowering the EMI burden to its customers, and allows them to make savings by transferring their current home loan scheme from any other Bank to ICICI bank. The balance transfer feature is very innovative and a very thoughtful gesture on the bank’s part.

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